The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Dollar General located at 710 East 4th Street in Delavan, Illinois for $ $1,211,000. Delavan is part of the Peoria Metropolitan Statistical Area.
The 10,566 square foot Dollar General building is strategically located along East 4th Street which is the primary thoroughfare in the trade area. This store is a relocation of a previously successful Dollar General. Dollar General serves as a primary convenience shopping destination for residents in the area with limited competition.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a southeast based institution. The purchaser was a Midwest high net worth private investor.
The Dollar General lease has over 13 years remaining and expires November 2030. The absolute triple net lease features no landlord responsibilities and 10% rental escalations in each of the five 5-year renewal option periods. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. As of February 2017, Dollar General operated 13,320 stores located in 43 states.
“The market for recently constructed net leased Dollar General Stores remains active as these assets are in high demand among private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Newly constructed properties with long term leases, investment grade tenants and rental escalations are sought after products on the net lease real estate market.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $4 billion of single tenant net lease real estate transactions. From 2011-2016, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Address:666 dundee road #1801
Country: United States